A Mega-Merger in Oil, Chaos in Congress, & NBA’s Iggy Swaps Courts for C Suites 10/23/23

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 23 October 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s a merger Monday! Chevron is buying Hess for $53B in the second huge oil transaction in weeks. Becky Quick shares details on the deal from her conversation with Chevron CEO Michael Wirth, and Joe Kernen and Andrew Ross Sorkin consider the implications of the deal for the American energy ecosystem. Nine new Republicans have joined the race for Speaker, but no clear resolution to the legislative chaos has emerged. CNBC’s Emily Wilkins explains the situation in DC, and former Republican Ways and Means Committee Chair Kevin Brady joins former Democrat Congresswoman Donna Edwards to discuss the logjam and the leadership on the Hill. Plus, a special conversation with NBA star and author Andre Iguodala, who’s hanging up his basketball shoes after two decades on the court. He’s turning to his venture capital career full time, and he has advice for athletes looking to follow his lead: be obsessed. Emily Wilkins - 12:34 Kevin Brady and Donna Edwards - 14:14 Andre Iguodala - 22:57 In this episode: Andre Iguodala, @andre Andrew Ross Sorkin, @andrewrsorkin Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	Merger Monday, Oil Giant Chevron acquiring Hess for 53 billion in stock.
0:15.0	Look, they don't like to do deals in cash because oil prices move so much when you're dealing
0:19.8	with a commodity. If it's at $90 now, if it went down to $60 you look like you've
0:23.8	overpaid for it. Groundhog Day choosing a Speaker of the House right now it
0:28.9	feels like even Jesus couldn't get to 2017. Former Republican Ways and Means Chair Kevin Brady.
0:34.6	The election tomorrow may be a bit of a fresh start.
0:37.8	And former Democratic rep Donna Edwards.
0:40.3	There's a lot of work to be done between now and the end of the year and you just can't have this chaos.
0:46.0	And NBA star Andre Iguadala leaving the court and heading full time into venture capital.
0:52.0	His advice to other athletes, be obsessed.
0:54.7	We spent our whole lives getting ready for the NBA.
0:57.6	You have to have a similar focus in order to be a great tech investor.
1:02.2	Plus, Monday morning quarterbacking on the T Swift Travis Kelsey romance.
1:07.0	Do you think he's just trying to show off?
1:08.0	Yes.
1:09.0	It's October 23.
1:12.0	Squawk Pod begins right now. It's October 23, 23.
1:12.8	Squawk Pod begins right now.
1:15.4	Stand Becky by in three, two, one, Q, please.
1:20.9	Good morning everybody.
	...

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